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Fly News Breaks for December 6, 2016
LULU
Dec 6, 2016 | 06:31 EDT
Deutsche Bank analyst Dave Weiner says he's cautious into lululemon's Q3 results on Wednesday. His Black Friday holiday analysis suggested "nice" traffic at lululemon stores, but "weak" customer spend and high inventories. The analyst views management's long-term earnings per share plan of $4.00 as aggressive and thinks the number may get talked down in to January's ICR conference presentation. Weiner lowered his price target for lululemon shares to $62 from $65 and keeps a Hold rating on the name.
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